Tatry mountain resorts, a.s. Peer Group Presentation

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IV. Financials FY 2009/2010* Companies Revenues in mil. EUR EBITDA in mil. EUR EBITDA margin Net Income In mil. EUR Net profit margin Total debt / EBITDA in mil. EUR ROA ROE CDA 597 167.9 28% 47 7% 2.5 3.0% 5.8% SkiStar 195 66.7 34% 38 17% 3.2 5.2% 12.6% Vail <strong>resorts</strong> 604 126.6 21% 21 4% 2.9 1.7% 4.1% Cedar Fair 680 249.6 37% (22) (8)% 4.6 (2.1)% (44.7)% Televerbier 38 23.3 61% 25 9% 0.8 2.9% 6.0% Nebelhornbahn 7 1.8 26% 0.4 6% 2.2 2.9% 7.1% Vealls 14 5.9 21% 2 14% 0.2 5.4% 5.8% Compagnie du Mont Blanc 56 15.3 27% 4 7% 5.2 5.2% 12.5% TMR 26 6.7 26% 6 23% 4.7 1.9% 2.1% 12 * for specification of individual FY, please refer to slides 8.9,10,11,12 Source: Bloomber.g, publicly available information about companies
in mil. EUR IV. Comparison of the companies Financials FY 2009/2010* 800 70% 700 680 61% 60% 600 500 50% 400 300 34% 40% 30% Revenues Net Income EBITDA EBITDA margin 200 100 20% 0 -100 13 Compagnie des Alpes SkiStar Vail <strong>resorts</strong> Cedar Fair Televerbier Nebelhornbahn Vealls Compagnie du Mont Blanc Revenues: The improvement in revenues and adjusted EBITDA** of Cedar Fair results from the record attendance of 22.8 million guests in 2010, an increase of 7.8% from 2009. Net income: CDA generated the highest net income of 47 mil. EUR among the companies. EBITDA margin: Most efficient performance indicates Televerbier and SkiStar. By revenues in amount of 194.7 mil. EUR SkiStar reached 34% EBITDA margin. Televerbier by 38 mil. EUR of revenues generated 61% EBITDA margin. * for specification of individual FY, please refer to slides 8.9,10,11,12 ** Adjusted EBITDA represents earnings before interest, taxes, depreciation, and certain other non-cash costs. It is not a measurment of operating performance computed in accoradnce with GAAP. It is a meaningful measure of park-level operating profitability. Source: Bloomberg, publicly available information about companies TMR 10% 0%
Page 1 and 2: Tatry mountain resorts, a.s. Peer G
Page 3 and 4: I. Profile of the companies
Page 5 and 6: I. Profile of the companies Compani
Page 7 and 8: II. Share performance Companies Sha
Page 9 and 10: Core business (FY 2010) 39%** 5%* 6
Page 11: IV. Financials FY 2009/2010
Page 15 and 16: IV. Financials SkiStar* in mil. EUR
Page 17 and 18: IV. Financials Cedar Fair* in mil.
Page 19 and 20: IV. Financials Nebelhornbahn* in mi
Page 21 and 22: IV. Financials Compagnie Du Mont Bl
Page 23 and 24: V. Competitive advantages
Page 25 and 26: V. Competitive advantages Companies
Page 27: VI. Summary The selected comp

Tatry mountain resorts, a.s. Peer Group Presentation

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